Market News

– After massive controversies about the limitations that equities’ daily fluctuation range (±5% for TSE, IFB and ±10% for the base market) imposed on market liquidity and dynamism, now the new head Tehran Stock Exchange announced that a dynamic fluctuations limit is on this body’s agenda, however, the current IT infrastructures does not meet the need and it shall be upgraded with regards to international standards.

– In a report carried out by “KEYOU analytics” on global customs departments, Iran placed the first amid all other nations in terms of highest import tariffs. As of 2016 Iran import tariffs reached 29.50% which is far from the normal averages following by Butan (22.40%) and Pakistan (17.20%). The lowest tariffs are for Hongkong and Singapore (below picture has the details):

– A new piece of Islamic Treasury Bills is to be offered on Iran Fara Bourse on January 09, 2019 after a short pause ion the listing process of ITBs due to the expiration of some issues. This issue has a value of IRR 6,030 bn (USD 57.43 mn – USD/IRR 105,000) and will be matured no sooner than October 19, 2019 (1-year maturity). As always the ministry of economy and financial affairs would act as the guarantor and CSDI is to do the transactions.

In the Market

Stocks performed notably higher today as investors chose to put their faith again on the capital market after a series of better than expected news came on both politics and economics fronts. TEDPIX (+0.65%) jumped for almost 1,050 points to close above 162K level once again while IFEX (1.39%) recoup a very good chunk of its previous disappointing losses and settled above 1,900 level.

As t was expected, the fresh cash injections by the retail side investors into the market has finally had its effects and a bunch of small to mid-cap sectors started a rally after all. Being on the front, the Oil Products (+4.03%) sector was widely demanded by investors as some promising analyses on the future of global crude prices in 2019 made the participant more sure about the year-long trend of its components. Literally, all of the listed tickers ended the day with good demand in better green.

Auto (+1.11%) and Banking (-0.49%) continued their whipsaw trend today as well. Being the sectors who attracted most of the fresh injected money by small investors, the first still has the price hikes to manoeuvre on while the second is more solid in fundamentals. Mellat Bank (BMLT, +1.81%) was amid the few ones could save its upbeat trend today and changed hands for almost 144 mn shares.

Agah analysis shows that the trend of cash injections from the retail side is still strong which if continues it could make the market to perform better took back its place 5-months ago.

DISCLAIMER: This report has been prepared and issued by Agah Brokerage Firm on the basis of publicly available information, internally developed data and other sources believed to be reliable. The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. Agah does not assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Any expressions of opinions are subject to change without notice.